Tinubu approves framework to unlock $50bn deep offshore investment

President Bola Tinubu has approved a new investment framework designed to unlock approximately $50 billion in deep offshore oil and gas investments in Nigeria. The policy aims to revive major offshore projects that have remained stalled for years by replacing previous project-by-project negotiation methods with a transparent, rules-based system.

This regulatory shift is intended to attract long-term capital into the Nigerian energy sector. By establishing standardized rules for investment, the government seeks to provide the necessary stability to move forward with significant offshore developments that were previously hindered by administrative hurdles.